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Understanding the benefits of AI in accounting

Future CFO

One of the five agendas that the Association of Chartered Certified Accountants (ACCA) identified for finance professionals to create a a better, fairer, and more sustainable world is the importance of understanding the benefits of artificial intelligence in the accountancy profession.

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How to Handle Deferred Revenue

VCFO

They are paid an average of $1M upfront for each location, book that invoice as deferred revenue, and then recognize the revenue based on the completion of milestones that are spelled out in the contract using the percentage of completion method. As the points suggest, deferred revenue isn’t just an accounting issue.

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5 Accounting Challenges Startups Face and How to Help Them Thrive

The CFO College

As an accountant or bookkeeper, you can help prevent startups from going under or losing profitability. You may hear some accounting professionals talk about horror stories related to startups. If the startup is already operating, have your clients invoice customers as soon as possible.

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3 Types of Nonprofit Fraud to Watch Out for Today

The Charity CFO

And in early 2021, the department labeled Feeding Our Future “seriously defective” due to incomplete financial audits and lapsed IRS nonprofit registration. Proper accountability, oversight, and separation of duties in nonprofits would prevent grift on this scale from taking place. 3 Common Types of Fraud in Non-profits .

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5 Excel-heavy Pain Points still Dragging down finance teams in 2024

The Finance Weekly

When you’re making small-talk with someone who isn’t in finance or accounting about how work is going, and they answer with “busy,” do you ever question how hard it really is? They have a five person accounting team who spend an unwieldy amount of time dumping data from NetSuite into Excel. These processes vary.

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The UK’s Damning Carillion Report: The Spark For Change, Or An Unanswered Call?

PYMNTS

A few key themes emerged from the fallout, however, with analysts citing Carillion as a prime example of how a consolidated auditing market risks lackluster accounting standards, as well as how late payments by large corporates can have detrimental impacts on small suppliers. The Government’s Response.

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Beyond the pandemic: How finance continues or kick-starts RPA implementation

Future CFO

For instance, invoice processing can be a very labour-intensive workflow. You need to prepare an invoice and send it to a customer. With the use of automation capabilities in handling invoices, administrative processes become seamless and smoother, especially for closing and servicing processes.

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